Honor of Kings Maintains Revenue Lead as Top Mobile Games Show Mixed Performance in September
According to AppMagic data, Honor of Kings remained the highest-grossing mobile game in September despite a second consecutive month of revenue decline, while Gossip Harbor held second place with approximately $99 million in in-app purchase earnings. Several established titles experienced notable downturns, including Candy Crush Saga posting its worst monthly performance since April 2022 and Royal Match reaching its lowest estimated revenue since June 2023. Roblox, Monopoly Go, and Whiteout Survival also saw decreases, though some games like Pokémon Go recovered from previous weak months.
The mobile gaming revenue landscape in September revealed significant volatility among major publishers. While Tencent's Honor of Kings maintained its dominant position, several traditionally stable performers experienced substantial contractions. Royal Match hit its weakest financial performance in over three years, and King Digital's Candy Crush franchise posted its poorest results since early 2022, suggesting shifting player engagement patterns across puzzle and casual game categories.
The data also highlighted the unpredictable nature of live service monetization. Games like Pokémon Go and PUBG Mobile demonstrated dramatic month-to-month fluctuations, swinging between $30-100 million ranges, while newer titles such as TFT: Golden Spatula and Dragon Ball Z: Dokkan Battle showed surprising upward momentum in the rankings despite the overall market softness.
These revenue trends could affect development strategies across the industry, potentially influencing investment decisions in live service games versus other genres. Players may experience shifts in content update frequency and monetization approaches as studios respond to declining earnings. The volatility could also impact employment stability within game development studios and publishing companies reliant on specific titles' performance, while investors may reassess their portfolios of gaming-sector stocks based on these monthly performance indicators.